Tag: Africa economy

AFCFTA
BusinessHot News

Nigeria’s Bergmans secures $3.1 billion AfCFTA customs project

Bergmans AfCFTA customs project will digitize customs across 50 African countries under a $3.1 billion, 20-year trade deal.

Timilehin Adejumobi Timilehin Adejumobi
IMF
BusinessHot News

IMF approves $1.8 billion for Egypt, boosting confidence in Africa’s economy

IMF approves $1.8 billion for Egypt, supporting economic reforms, investor confidence and Africa's second-largest economy.

Timilehin Adejumobi Timilehin Adejumobi
Burkina Faso ends four-year ban on cereal flour exports
BusinessGlobal News

Burkina Faso ends four-year ban on cereal flour exports, boosting Africa trade

Burkina Faso ends a four-year cereal flour export ban, opening new trade opportunities for processors as production reaches record levels.

Oluwatosin Alao Oluwatosin Alao
European-Union
BusinessHot News

EU completes $5.6 billion Egypt funding program with new $1.7 billion payment

EU funding for Egypt rises to $5.6 billion as a new $1.7 billion payment backs economic reforms, stability and IMF-linked measures.

Timilehin Adejumobi Timilehin Adejumobi
Namibia’s Hengari turns to Dutch farming, water expertise to spur growth
BusinessGlobal News

Namibia boosts ties with Netherlands on agriculture and water

Namibia strengthens ties with The Netherlands to boost agriculture, water management and investment for long-term economic growth.

Oluwatosin Alao Oluwatosin Alao
Sierra Leone secures $211 million in new IMF climate funding
Global NewsHot News

Sierra Leone secures $211 million in new IMF climate funding

Sierra Leone secures $211 million in IMF climate funding to strengthen resilience and support economic reforms.

Oluwatosin Alao Oluwatosin Alao
Eurobond
BusinessHot News

Zambia to buy back 2053 bond with $600 million AFDB loan

Zambia moves to repurchase $1.36bn 2053 eurobond using $600m AfDB loan to streamline debt and reopen global market access.

Timilehin Adejumobi Timilehin Adejumobi
Macron unveils $27 billion Africa fund to rival China’s growing influence
Global NewsBusiness

Macron unveils $27 billion Africa fund to rival China’s growing influence

French President Emmanuel Macron has unveiled a €23 billion ($27 billion) investment plan for Africa, targeting energy, agriculture, digital infrastructure and maritime industries as France looks to strengthen economic ties across the continent and push back against China’s growing influence.  The announcement was made during the Africa Forward summit in Nairobi, where African leaders, investors and business executives gathered to…

Oluwatosin Alao Oluwatosin Alao
Zimbabwe plans gradual shift from U.S. dollar to ZiG to restore trust
BusinessGlobal News

Zimbabwe moves to reduce reliance on U.S. dollar amid currency shift

Zimbabwe is stepping up efforts to ease its dependence on the U.S. dollar, part of a broader plan to restore confidence in its local currency and steady the economy after years of instability. The push reflects growing concern among policymakers that dollarisation has weakened the country’s ability to manage inflation and guide economic policy.  For more than a decade, the…

Oluwatosin Alao Oluwatosin Alao
Botswana signs Oman energy, mining deals to cut diamond reliance
BusinessTechnology

Botswana, Oman strike energy, mining deals to boost Africa ties

Botswana is stepping up efforts to reduce its reliance on diamonds, signing new agreements with Oman that span energy, mining and infrastructure. The deals come as the Southern African country faces softer global demand for diamonds, a sector that has long supported public finances and economic growth.  For years, diamonds have accounted for about a third of Botswana’s economy. But…

Oluwatosin Alao Oluwatosin Alao
Egypt dims Cairo nightlife as rising fuel costs force early closures
Global NewsBusiness

Egypt curbs Cairo nightlife to ease rising energy costs

Egypt is tightening energy use in Cairo, dimming its nightlife as rising fuel costs and regional tensions strain public finances and the power grid. Authorities have ordered earlier business closures and reduced street lighting, a notable shift for a city known for its late-night pace.  The move reflects growing pressure on Africa’s third-largest economy as higher global energy prices push…

Oluwatosin Alao Oluwatosin Alao
World Bank
BusinessTechnology

World Bank weighs options to ease Mozambique’s mounting debt burden

Mozambique’s debt crisis is worsening, pushing the World Bank to step up efforts to support the Southeast African nation as borrowing costs rise and investor confidence weakens.  The strain reflects wider pressure across emerging markets, where tighter global financial conditions and geopolitical tensions are making it harder for governments to access affordable funding. For Mozambique, those challenges are compounded by…

Oluwatosin Alao Oluwatosin Alao